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Monday, October 04, 2010 

Stock Market Alerts for Tuesday, Oct 05

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My technical indicators show that the current short term bearish outlook onApple Inc. (NASDAQ:AAPL) has big probability to continue. The stock broke the key level at $279.8. Further fall is now in favor. My model is short, targeting $273 area. If the weakness continues and the stock breaks this support, there will be a good chance that the stock will test the $262 support ( 50 day moving average ). Keep a close eye on AAPL for the next few trading days.

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On the daily chart, Electronic Arts Inc (NASDAQ:ERTS) is still facing resistance around $16.96 ( 200 dma ). The technical daily chart above shows the momentum indicators have turned up and the RSI is on the rise. For the short term the stock should still continue to go up. A close above $16.96 would have positive implications and could drive the stock much higher. Keep ERTS on your radar.

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It is clear that Generex Biotechnology Corporation (NASDAQ:GNBT) wants to move higher again. Once we get a couple of positive events, we will move rapidly. The stock reacted to the $.55 mark over the past sessions and has suffered a small correction as shown in the chart above. Short term support for the stock is in the $.485 to $.49 region. Technical indicators are favoring longs with both positive momentum indicator and positive MACD above the zero line. A move above $.56 would mark a medium-term breakout. Let’s keep an eye on it.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Good luck to all,

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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